Michelle Bond, the former congressional candidate and partner of ex-FTX executive Ryan Salame, is facing allegations of violating U.S. campaign finance laws. A recently unsealed indictment reveals accusations that Bond improperly financed her failed 2022 New York House campaign with funds linked to a Bahamas-based cryptocurrency exchange.
The indictment, presented by Damian Williams, U.S. Attorney for the Southern District of New York, alleges that Bond funneled at least $400,000 of illicit funds into her campaign under the guise of a fraudulent consulting agreement. At the time of these transactions, Bond was involved with Salame, who was working for FTX, the cryptocurrency exchange founded by the now-imprisoned Sam Bankman-Fried.
FTX, headquartered in the Bahamas, had already been embroiled in legal troubles concerning campaign finance violations. Federal prosecutors contend that Bond openly acknowledged the crypto exchange’s involvement in her campaign during a meeting with a Trade Group board. According to FBI acting assistant director Christia M. Curtis, Bond also deliberately misled Congress about the origins of her campaign funds, employing various tactics to conceal the truth.
Related Investigations
This revelation surfaces as Salame himself continues to face scrutiny. He recently accused the government of backtracking on a plea deal, which he claims included a provision that Bond would be spared further investigation in exchange for his guilty plea.
Salame, who pleaded guilty to conspiracy charges in September 2023—coinciding with Bankman-Fried’s trial—was sentenced to seven and a half years in prison. Despite his guilty plea, he now intends to challenge his sentence and push for the dismissal of the charges against Bond.
Bond’s legal troubles have been building since her 2022 Congressional campaign in New York’s District 1, where she first came under investigation for campaign finance misconduct.
Post-Sentencing Fallout
Salame’s social media activity following his sentencing has further complicated matters. Prosecutors noted his recent posts, which showed “a complete lack of remorse” for his actions. Salame publicly accused former FTX executives Caroline Ellison and Nishad Singh of manipulating their own plea deals by lying to authorities.
As prosecutors continue to examine the allegations against Bond and Salame, the legal aftermath of FTX’s collapse continues to unfold, leaving a lasting impact on the crypto world and the political sphere alike.
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